Current Affairs December 02 and 03, 2018

1. DGAFMS Military Medicine Conclave 2018 held in New Delhi

The first Directorate General Armed Forces Medical Services (DGAFMS) Military Medicine Conclave was held in New Delhi.

The aim of the conclave was to deliberate on issues and challenges being faced by the AFMS today and to utilize the collective wisdom and experience of veteran leaders of the Corps who have led the Corps to its glorious present status.

DGAFMS and Senior Colonel Commandant AMC Lt Gen Bipin Puriwelcomed the delegates and highlighted the significance of this unique endeavour.

December 1, 2018 marked the start of the Armed Forces week till December 7, 2018.

2. Former US President George HW Bush passes away at 94

Former U.S. President George H.W. Bush, who presided over the end of the Cold War and routed Saddam Hussein's Iraqi army, diedat the age of 94.

He was the 41st president of the United States.

He defeated former Massachusetts Governor Michael Dukakis, the Democratic nominee, in the 1988 presidential campaign, and lost his 1992 re-election bid to Democrat Bill Clinton.

3. Government puts gold dore imports under restricted category

The government put the imports of gold dore in restricted category.

This means, now, an importer needs a license to import this commodity.

Gold dore is a semi-pure alloy which is refined for further purification. Refined gold bars are manufactured from gold dore bar.

India, the world's second-biggest gold consumer after China, imports about 900 tonnes of gold a year.

4. Abhinav Bindra conferred with shooting’s highest honour by ISSF

Abhinav Bindra, the 2008 Olympic gold medallist was conferred with shooting's highest award by the International Shooting Sport Federation (ISSF) at the General Assembly in Munich .

The Arjuna awardee on receiving the prestigious Blue Cross took to Twitter to express that he feels "extremely humbled."

The 36-year-old Bindra had created history during the Beijing Olympics when he became the first Indian individual to clinch a gold medal.

5. India's economy grows at 7.1 per cent for 2nd part of 2018-19

India's economy grew at 7.1 per cent for the second quarter of 2018-19 according to data released by Central Statistics Office(CSO).

The CSO estimates state that GDP at constant prices was 33.98 lakh crore rupees for second quarter this fiscal, which is a marked increase from 31.72 lakh crore rupees for the same period in 2017-18.

He further stated that the government’s focus on simplifying India’s business and investment eco-system has greatly improved India’s economic health in the recent past.

6. International Day for the Abolition of Slavery ; 2 December

The International Day for the Abolition of Slavery is a yearly event on December 2, organized by the United Nations General Assembly.

The Day was first celebrated in 1986.

The Convention for the Suppression of the Traffic in Persons and of the Exploitation of the Prostitution of Others was approved by the United Nations General Assembly on December 2, 1949.

7. Net Stable Funding Ratio Norms To Become Operational From April 2020: RBI

The RBI said NSFR norms that mandate banks to maintain a stable funding profile in relation to the composition of their assets and off-balance sheet activities will be operational from April 2020.

The NSFR is defined as the amount of available stable funding relative to the amount of required stable funding.

The NSFR norms were thus issued and from the aforesaid date the NSFR norms would be active in the Indian banking sector.

8. Trump signs trade pact with Canada and Mexico to replace Nafta

Donald Trump and the leaders of Canada and Mexico signed a revised North American trade pact, a deal that fulfills a key political pledge by the US president but faces an uncertain future in the US Congress.

The US-Mexico-Canada Agreement (USMCA) is meant to replace the 24-year-old North American Free Trade Agreement (Nafta), which Trump has long denigrated as a “disaster”.

The deal requires ratification by all three countries legislatures before taking effect.

9. International Day of Persons with Disabilities 3 December

International Day of Persons with Disabilities is an international observance promoted by the United Nations since 1992.

The observance of the Day aims to promote an understanding of disability issues and mobilize support for the dignity, rights and well-being of persons with disabilities.

In 1976, the United Nations General Assembly proclaimed 1981 as the International Year of Disabled Persons. It called for a plan of action at the national, regional and international levels, with an emphasis on equalization of opportunities, rehabilitation and prevention of disabilities.

10. Mauritius’ State Bank gets RBI approval to merge operations with its Indian subsidiary

The Reserve Bank of India has approved merger of SBM (Mauritius), India with SBM Bank (India).

The Reserve Bank of India has sanctioned the Scheme of amalgamation of the entire undertaking of SBM Bank (Mauritius) Limited.

The scheme will come into force with effect from December 01, 2018, it said further. All the branches of SBM Bank (Mauritius) Limited in India will function as branches of SBM Bank (India) Limited with effect from December 01, 2018.